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govt schemes pushes fdi in food processing industries

by:Kenwei      2019-09-11
Foreign direct investment in food processing has increased from $170 to now.
2011 21 million-12 to USD 505.
2015 88 million-16.
H. e. Mr. Sadhvi Niranjan Joti, food processing industry, went to the federal hospital.
Foreign direct investment flows into the food processing industry are one of the reasons, the minister said.
78% increase in added value of food processing industry in 2014-15 at 2011-12 prices.
In addition, according to the industry annual survey, the number of food processing industries in the registered industry also increased from 36880 in 2011
From 2013 to 37450-14.
To facilitate the food processing units in the country, the ministry is implementing plans for large food parks, cold chains, value-added and preservation infrastructure, establishment/modernization of slaughterhouse and strengthening of institutions.
According to these plans, Grant-in-
Assistance for the establishment of projects.
In addition to allowing 100% of foreign direct investment in the food processing sector through automated routes, the government also allows 100% of foreign direct investment to conduct retail marketing of food produced and manufactured in India through approved routes.
To encourage the development of the food processing industry, the government has reduced the consumption tax on food processing and packaging machinery from 10% to 6%, allow the food processing unit to impose a 100% income tax exemption on profits in the first five years of operation, followed by a 25% income tax exemption on profits in the next five years, and so on.
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